Psych Levels, Pivots, and Trendlines - Resurrected | Page 244 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,861
  • Feb 23, 2010 12:47am Feb 23, 2010 12:47am
Quoting Prof Hunter
Hi, EV!
Is it a valid one? Fra Open.
Nice one, mate. A pull-back into a quadruple confluence and an entry just above the high of the doji. The result speaks for itself.
Well done, mate.
  • #4,862
  • Feb 23, 2010 1:21am Feb 23, 2010 1:21am
What do You mean quadruple?
1+2 two lines?
3 MAs?
4 ?
  • #4,863
  • Feb 23, 2010 1:58am Feb 23, 2010 1:58am
Quoting Prof Hunter
What do You mean quadruple?
1+2 two lines?
3 MAs?
4 ?
R1
xx25 psych-line
13ema
34ema
  • #4,864
  • Feb 23, 2010 2:19am Feb 23, 2010 2:19am
OK, I took the MAs as one. THX!
  • #4,865
  • Feb 23, 2010 5:53am Feb 23, 2010 5:53am
Two nice opportunities over the last hour and a half or so.....

The first one initiated by a shooting star type candle right on the confluence of 13ema/xx50 psych-line.

The second one signalled by the Harami between the 13ema and the xx25 psych-line.

The sort of opportunities worth waiting for.
Attached Image
  • #4,866
  • Feb 23, 2010 10:03am Feb 23, 2010 10:03am
Quoting Islander
I use these indys.....I used ircforex a couple of years ago, but not anymore as I found it too distracting....

In the pivots indy if your broker is GMT, then set the DestTimeZone to 2, that will calculate them from 5pm est....
you are the man thanks a lot! take care
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #4,867
  • Feb 24, 2010 1:00am Feb 24, 2010 1:00am
Is it OK, the second pin break, to take, or too far from the line?
Attached Image (click to enlarge)
Click to Enlarge Name: ev 3.gif Size: 20 KB
  • #4,868
  • Feb 24, 2010 1:52am Feb 24, 2010 1:52am
Quoting Prof Hunter
Is it OK, the second pin break, to take, or too far from the line?
I wouldn't have taken anything on eur/usd this morning so far, mate. Moving sideways, MA's twisting around one another, long shadows on lots of candles showing a great deal of indecision.
Wait until they've all made their minds up which way they're going!
  • #4,869
  • Feb 24, 2010 1:53am Feb 24, 2010 1:53am
Quoting eyevoltage
I wouldn't have taken anything on eur/usd this morning so far, mate. Moving sideways, MA's twisting around one another, long shadows on lots of candles showing a great deal of indecision.
Wait until they've all made their minds up which way they're going!
OK, so no bounces for You, just trend trading?That s fine.
  • #4,870
  • Feb 24, 2010 2:00am Feb 24, 2010 2:00am
Quoting Prof Hunter
OK, so no bounces for You, just trend trading?That s fine.
Oh, I'll trade bounces, mate, but there wasn't any on this chart. The only ones that I can see was a short off the 1.3550 psych-line at 6.15am, and I was still snoring my head off then, and a pull-back with lots of indecision candles to the MA's at around 7.20am. Yes, pips to be made, no doubt, but again, too early for me and far too unpredictable.
  • #4,871
  • Feb 24, 2010 2:21am Feb 24, 2010 2:21am
Quoting eyevoltage
Oh, I'll trade bounces, mate, but there wasn't any on this chart. The only ones that I can see was a short off the 1.3550 psych-line at 6.15am, and I was still snoring my head off then, and a pull-back with lots of indecision candles to the MA's at around 7.20am. Yes, pips to be made, no doubt, but again, too early for me and far too unpredictable.
See, THX, EV!
  • #4,872
  • Feb 25, 2010 12:12am Feb 25, 2010 12:12am
EV!
Which of these bar lows (break) would You use to enter?
Attached Image (click to enlarge)
Click to Enlarge Name: ev 1.gif Size: 19 KB
  • #4,873
  • Feb 25, 2010 1:02am Feb 25, 2010 1:02am
Quoting Prof Hunter
EV!
Which of these bar lows (break) would You use to enter?
Under the low of the second green candle.
  • #4,874
  • Feb 25, 2010 1:24am Feb 25, 2010 1:24am
Q about MAs: Which is more important? The 13 or 34 bounce for You? Or the channel they make?
THX!
  • #4,875
  • Feb 25, 2010 1:30am Feb 25, 2010 1:30am
Also, a loss to discuss: bar break over S1, MAs show up trend. Is it an OK loss, or am I miss something here?
Attached Image (click to enlarge)
Click to Enlarge Name: ev 4.gif Size: 21 KB
  • #4,876
  • Feb 25, 2010 2:50am Feb 25, 2010 2:50am
Quoting Prof Hunter
Q about MAs: Which is more important? The 13 or 34 bounce for You? Or the channel they make?
THX!
For me, the 13/34ema alliance has more than one use.

Firstly, there's the obvious one of giving an idea of the present trend. Second, the "zone", as I call it, is the area I like to see pull-backs head into, before the trend continuance. If a candle reversal forms in this "zone", then for me, it's a heads-up of a potential high-probability trade. Third, it's highly probable that either one of the MA's will form a confluence with any of the S/R lines on the chart, and if price then forms a reversal pattern at these confluences, again a high-probability trade is in the offing.

Go back through the charts and look for these sort of opportunities....they crop up time and again.
  • #4,877
  • Feb 25, 2010 3:04am Feb 25, 2010 3:04am
Quoting Prof Hunter
Also, a loss to discuss: bar break over S1, MAs show up trend. Is it an OK loss, or am I miss something here?
Sorry, I don't quite understand your question. Are you saying that you entered a long position based on the pull-back into the "zone"? The MA's did indeed show an up-trend, BEFORE you entered where I think you entered. However, it would have been prudent in this example to wait for a clear sign of a trend continuance (reversal pattern) before entering the trade. In other words, price to start upwards and CLEAR the "zone". Unfortunately, in this case, price headed down to the other side of the "zone", automatically negating any thought of a long trade, IMO. The actual reversal pattern (a harami) didn't appear until price had gone down to hit the xx75 psych-line. Time then to stand back and wait for the next opportunity.

Hope this helps.
  • #4,878
  • Feb 25, 2010 3:16am Feb 25, 2010 3:16am
Quoting eyevoltage
However, it would have been prudent in this example to wait for a clear sign of a trend continuance (reversal pattern) before entering the trade. In other words, price to start upwards and CLEAR the "zone".
Hope this helps.
You mean break up the 13EMA, too?
It did when the bar 'was break up'. Or close higher?
  • #4,879
  • Feb 25, 2010 3:56am Feb 25, 2010 3:56am
Quoting Prof Hunter
You mean break up the 13EMA, too?
It did when the bar 'was break up'. Or close higher?
In this case, it would have been a good idea to wait for another candle to clear not only the 13ema, but also the high of the pin-bar that you indicated on your chart. A basic rule that I try and observe at all times. The potential entry candle should, by definition, give a good reason for entering the trade. If, in your opinion, you can't see that reason, then stay out.
  • #4,880
  • Feb 25, 2010 4:43am Feb 25, 2010 4:43am
You see, when I entered, that pin bar was a Bull bar 2pip (1pip+spread) higher than the earlier one. But came back, and formed a pin against Me. So when I entered it was green, higher than the earlier bar, higher than the 13EMA.
Just ask am I miss something, or it s just a loss what happen?
Do You use bigger buffer than 1+spread?
1 trader viewing now